U.S. Bank Home Equity Line vs. Loan Comparison Chart

The Annual Percentage Rate (APR) will vary at Prime Rate as published in the Wall Street Journal. As of December 16, 2009, the variable rate for lines of credit is Prime + 0.74% to Prime + 5.74% (3.99% APR to 8.99% APR). In parts of Arizona, California and Nevada the variable rate for lines of credit is Prime +1.00 - Prime +6.00% (4.25% APR to 9.25%). Rates vary by loan to value and credit limit. All rates assume customer has a U.S. Bank package with a U.S. Bank Checking Account. The rate will not exceed 25% APR. The floor rate is 3.99% APR. An annual fee of up to $90 may apply after the first year and can be waived with a U.S. Bank Platinum Package. The first Fixed Rate Option is free; each additional one is $50. Offer is subject to normal credit approval. Property insurance is required. Interest on amounts exceeding 100% of the available equity is not tax deductible. Consult your tax advisor regarding the deductibility of interest. Rates are subject to change. Some restrictions may apply. Home Equity loans and lines of credit are offered through U.S. Bank National Association ND. Member FDIC.

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Installment loan payment example: On a $30,000 20-year loan (240 payments) at 7.99% APR, monthly payments would be $250.75 if the Loan-to-Value ratio is less than or equal to 80%. Higher rates apply for higher Loan-to-Value. Offer is subject to higher credit qualifications. Property insurance is required. Some additional restrictions apply.

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	Home Equity Line	Home Equity Loan

What it's for	One-time or ongoing financing needs	One-time financing needs
Ideal for you if	You want a one-time cash payout with fixed monthly payments or the option to have ongoing access to your credit	You want a one-time cash payout with fixed monthly payments and do not need access to additional funds
Interest rates	Your choice of: Fixed rate Variable rate tied to the Prime rate with the option to lock in a fixed rate at any time¹	Fixed interest rate
Maximum term	25 years (15-year draw period and 10-year repayment period) ¹	30 years ²
Payment options	Your choice of: Fixed monthly payments on balances with a fixed rate option ¹ Multiple monthly payment options including interest-only on variable rate balances ¹	Fixed monthly payments
Access to your funds	Funds can be accessed on an ongoing basis through: U.S. Bank branches U.S. Bank ATMs U.S. Bank Internet Banking Telephone transfers Convenience checks EquiLine Visa^® Gold Access Card	Funds are dispersed to you in one lump sum
Application fees	None
Amount you can borrow	Up to $500,000 (up to $1,000,000 in California)
Discounts	U.S. Bank Package customers that have their monthly payments automatically deducted from a U.S. Bank Checking account receive a .50% interest rate discount which is already reflected in the interest rates displayed on our rate tool.
Tax deductibility	Yes, please consult a tax advisor regarding tax deductibility of interest.